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Thursday, June 30. 2011
A few years ago I wrote The Sound of Many Faucets Running, a look at the new dollar coins. Coins last much longer than bills, y'see, therefore using much less energy to replace, thereby saving the planet from catastrophic meltdown.
While my post was fairly routine, I have to admit that if we had to switch from dollar bills to coins, I thought my idea bordered on the brilliant.
And here we are today:
And the planet thanks you!
Actually, there appears to be a bit of gray area as to why they tried to foist these on us in the first place. From the original article:
But now it's:
That's right, folks. They're educational. We're doing it for the children!
And, of course, it would be downright criminal not to include the Shoshone woman who help guide Lewis & Clark on their expedition:
Spokespersons for the Mohave, Navaho, Pima, Yuma, Washo, Arapaho, Cheyenne, Cree, Crow, Dakota, Osage, Seminole, Comanche, Wichita and Apache tribes could not be reached for comment.
Rutherford B. Hayes? Be still, my beating heart!
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If they want a real history lesson, they would start with the Presidents under the Articles of Confederation:
By the way, many of our current problems would not exist if we still operated under the Articles of Confederation. The problems the Founders had would, of course, but not ours.
I like the dollar coins. Let's face it, pennies and even nickels are basicly worthless these days. I throw them in the tip jar or the give / take a penny bin whenever there is one.
My kids got them from the tooth fairy. I might need some more soon, the boy has some loose teeth. The only plae that seems to have them lately is the Post Office.
In Euroland, you have to put up with all of those one euro coins. They are too heavy, they pull your trousers down. Paper money is light.
There were at least three major pre-Columbian migrations to the new world. Each of these migrations created conflict and displacement of the "indigenous" people who were descendents of prior migrations. In the period after the last great migration and prior to 1492 the existing indigenous people often would "lust" after the lands of other indigenous people and displace them (a nice word for genocide). All/most of these unfortunate tribes were simply "disappeared" and spokespersons for those tribes were also unavailable for comment as well.
The only way to get Americans to use dollar coins - the absolute single, only, unique way - is to stop printing dollar bills. As long as dollar bills are in circulation, people will not use dollar coins.
Just have to have a certain percentage of Indian dollar coins, else there would be outrage.
OTOH, put an Indian image on a football helmet or baseball cap and there is....outrage.
Archeology backs this up. I read a fascinating treatise on the Plains Indians a few years ago, and 150 years before we arrived, there was a whole different group occupying the area. 150 years before that, same thing.
While I'm sure the Plains Indians who were there when we arrived didn't consider themselves 'lucky' at the time, who would have guessed that one day they'd actually have more rights than we do. Want to open a casino and make millions of dollars? Too bad, buddy. Got 1/100th Cherokee blood in you? Have at it!
The only reason that pennies still exist is because of sales taxes which add amounts like $ 0.61 to your purchase. If you got rid of pennies, you would immediately increase inflation due to taxes, because the $0.61 would then go to $0.65 (or whatever it would be, when added to the amount of your purchase, is necessary to bring the total to a nickel.
The government would be in orgasmic ecstasy, having effectively increased tax rates by abolition of the penny, which is why you never want to give them this idea.
I would only disagree with the terminology of "genocide". Zinn introduced this term (if I recall correctly) and while there were acts of genocide that took place, the overall displacement is nothing unusual in the history of mankind or nature for that matter.
Species move into new territories and displace the existing species. Sometimes it is violent and determined. Other times it is simply a matter of being 'better' at doing something (Darwinian), such as farming.
But the overall gist of the point is agreeable.
I'll add that I collect coins, and have no interest in the Presidential coins at all. In fact, I know almost nobody who is interested.
Sure, there are collectors out there (and eventually I'll put my set together), but if the Treasury had been smart, they'd have handled this as a "special issue" geared toward collectors - like the Post Office used to do (maybe still does).
But they realized the cost of minting and maintaining paper currency is many times higher than dollar coins, and felt it was a way to increase money in circulation while lowering costs......but honestly, I've rarely used dollar coins. I have MANY Sacagaweas in my jug at home. I also have Susan B Anthony coins.....I EVEN HAVE EISENHOWERS!!! (LOVED those!)
$1 billion in dollar coins. Is that $1 billion in real money that is not in circulation, as in a billion that might add to the economy? Or is that $1 billion in unsubstantiated, hardly worth anything, money?
The article made an interesting point, noting that it wasn't actually "money" yet -- simply because it hadn't been in circulation yet. You'd think they'd be out there selling them two for a dollar, just so Obama could claim to have "added one billion dollars to the national wealth."
That's face value and I doubt it cost 5 cents to make the things. The US Mint puts so much junk out that it turned me off of collecting.
Why don't they just pay welfare, vendors etc with the stuff. That would put it in circulation.
For more coniage nonsense this is from Theo Sparks.
SAY vs. DO...........from Rico
We have become, instead of "the land of the free" the land of "do as I say, but not as I do" (at least according to our self-annointed political uber-betters.
But, instead of waxing on about the philosophical differences between freedom and individuality vs. Marxist group-think, I have a stellar example of the HUGE dichotomy between what is SAID and what is DONE, and a tangible one at that!
- It is ALWAYS wiser to watch what these jokers DO and pretty much ignore what they SAY (since they are all congenital liars anyway).
Six months into 2011, the US Mints has announced it will begin selling 2011 Silver Eagle (1oz) coins starting noon tomorrow. Here is the dichotomy:
Silver closed on the NYMEX/Comex "spot" markets today at $34.78/oz.
The Mint will be selling their 1oz silver coins at the low-low-low fire sale price of $59.95!
- Such a deal! Oy vey!!
But it gets better. Consider that it will take almost 60 paper Federal Reserve Notes (a.k.a. Greenbacks, US Dollars) to buy one of these coins bearing a 'face value' of ONE DOLLAR. Go figure that one out.
- Must be easier than printing 1/60th of a dollar on the paper confetti laughingly referred to as US Dollar bills....and, since the scam of tanking the purchasing power of the Dollar shows no sign of ending what would be the point of adding zeroes to the dies on our silver coins? I doubt the Mint could keep up with the Fed's printing presses.
This is unraveling fast. Here I had just become 'used' to considering my $1 silver coins as $50-Dollar pieces, and now they are $60-Dollar pieces while the Greenback is fast approaching the value of toilet tissue!
- This is a perfect example of the inflation that we do not have...................
The Boston area MBTA "Charlie ticket" machines give their change exclusively in these Presidential series dollar coins.
It was the first time I'd ever seen them before, and kept a few as oddities. Though they feel cheap, like they were stamped out of recycled soda cans, and are relativley uninspring interms of designs. As a nation, we used to know how to make beautiful coins. Gone along with a lot of other skills, I suppose.
If the U.S. gov't wants to encourage people to use dollar coins, I'd suggest two things... (1) they make 5, 10, 20, and 50 dollar coins too, and (2) they make them out of silver or gold. Under those circumstances, I would endure the obvious discomfort of carrying a weight of rattly coins around in my pockets instead of lightweight foldable paper bills.
But I think we all realize that the gov't isn't interested in being made to face up to the criticism and humiliation they would receive when people see how difficult it is for the government to peg their "currency" to something of real tangible value again. It would be a huge massive indictment of their economic and monetary policies.
Well, it's worth noting that I agree with you about the inflation. HOWEVER, using the silver Eagles as "evidence" is not a worthwhile discussion point.
These, as someone else on the comments section mentioned, are part of the Mint's many programs to drive interest in coin collecting. So their "value" is really not derived from face value but rather from the value of the specie AND the minting process.
It's a specialized run for a specialized audience. We see that all the time in other commodities (yes, money and currency ARE commodities). For example, I had an Explorer, but for an additional $15,000, I could've had an EDDIE BAUER Explorer. The "extras" were hardly worth it, but I'd have had the pleasure of paying to be a brand promoter for good old Eddie.
In this case, the Mint is (almost unknowingly) making a case for the purchase and ownership of specie.